Research On The Impact Of Environment Protection Tax On Green Innovation Of Enterprises

As China’s economy has changed from a stage of rapid growth to a stage of highquality development,the traditional resource-dependent production and consumption model has been unable to meet the new development needs of China.As a solution to the problem of tight resource constraints,green development has been placed in a more important position,and green innovation is the key.The National Development and Reform Commission has also proposed to further improve the country’s marketoriented green technology innovation system by 2025,which involves the government,enterprises,research institutions and other entities.But in our country,there are still problems in green innovation insufficient and unreasonable industrial structure,which require the government’s environmental policies regulation.The environmental protection tax bears the responsibility for restricting enterprise emission and protecting ecology.Therefore,studying whether environmental protection tax effectively restrains enterprises’ environmental pollution behavior,and whether promotes enterprises’ green innovation,is of great significance to our country to protect the environment,build the perfect green technological innovation system and realize high-quality economic development.Based on the micro level,this paper takes Chinese listed enterprises as the research subject,and uses empirical analysis,literature induction and normative analysis method to study the impact path of environmental protection tax on enterprise green innovation.Through the review of relevant literature,it is found that existing studies focus on the impact of environmental regulation on enterprise green innovation,while the discussion on the impact of environmental protection tax is not rich enough,and focuses on the data in 2019 and before.Based on previous studies,this paper extends the data to 2021,which can better explain the impact and existing problems since the implementation of environmental protection tax.This paper provides reference for improving environmental protection tax and green innovation system construction.Based on Porter’s hypothesis,neoclassical economics and other theories,this paper finds that environmental protection tax will generate innovation compensation to encourage enterprises to promote green innovation,enterprises will not carry out green innovation based on the cost constraint effect of environmental protection tax,and enterprises’ green innovation behavior is generated by the game between the marginal revenue generated by environmental tax rate and technology improvement.Based on this,the research hypothesis is put forward,that is,environmental protection tax will encourage enterprise green innovation,environmental protection tax will inhibit enterprise green innovation,and the impact of environmental protection tax on enterprise green innovation is heterogeneous in terms of the property right nature of enterprises,enterprise scale and the region to which enterprises belong.The empirical analysis of the two-way fixed effect model of Chinese listed enterprises from 2016 to 2021 shows that the environmental protection tax system can significantly improve the level of green innovation of enterprises,and the environmental protection tax plays more role of innovation compensation and incentive for enterprises’ green innovation.The effect of environmental protection tax on green innovation of non-state owned enterprises is greater than that of state-owned enterprises.The effect of environmental protection tax on green innovation of large-scale enterprises is better than that of small-scale enterprises.The environmental protection tax has no significant incentive effect on the green innovation of enterprises in northeast China,but has a significant positive effect on enterprises in eastern and western regions,among which the effect on the eastern region is the best.On this basis,this paper proposes that the environmental protection tax should be reformed and improved in the aspects of supporting policy,tax system design and tax collection and management,so as to achieve the differentiated implementation of environmental tax between regions.Enterprises should also optimize their internal management,so as to further play the incentive role of environmental protection tax on enterprises’ green innovation,and improve the level of green innovation in our country.